If Supply Is Inelastic, It Follows That

question 138

Multiple Choice

If supply is inelastic, it follows that

• A)an increase in price will not change quantity supplied.
• B)a decrease in price will not change quantity supplied.
• C)consumers will pay 100 percent of any tax placed on sellers.
• D)for any given percentage increase in price, quantity supplied will increase by a relatively greater percentage.
• E)for any given percentage increase in price, quantity supplied will increase by a relatively smaller percentage.

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Definitions:

Job Satisfaction

The level of fulfillment or contentment an individual feels regarding their job, including aspects like work environment, compensation, and recognition.

Across Cultures Competency

The ability to effectively communicate, interact, and work with people from different cultural backgrounds.

Plant Manager

An individual responsible for overseeing the operations, management, and success of a manufacturing or production facility.

Task Strategy

The plan or approach adopted to accomplish a specific task or objective effectively.